COLORADO SPRINGS, Colo. – Greystar – one of the country’s leading residential real estate managers and developers – has announced that construction is now underway on Ensley, a $66 million multifamily apartment complex that will span five stories and 277 apartment homes at the corner of Weber and Cimarron Streets.
Origin Investments, a private real estate firm, is joining Greystar on the project as a joint venture equity partner.
The new complex, which will be finished in 2023, will be named for Elizabeth Piper Ensley, an African American educator, activist and suffragist in the Colorado Women’s Hall of Fame, in honor of one of the state’s important female historical figures.
“Ensley, which meets a growing demand for housing in the area, will provide a luxurious and energizing environment in a serene natural setting,” said Bo Chapman, managing director of development at Greystar. “With deep connections to nature, Colorado Springs has a heritage as an early health resort, and the focus on wellness and outdoor recreation here continues. Located in the foothills of the Rocky Mountains, Ensley will capitalize on and reflect the region’s abundant natural beauty and extraordinary quality of life.”
Ensley will encompass 16,600 square feet of indoor and outdoor amenity space, including a co-working area; fitness center and movement studio; club, pool and sky lounges, a bike storage and wash area.
Studio, one-bedroom and two- bedroom units ranging from 480 to 1,298 square feet will be available to residents, each designed in earthy neutral hues with organic textures to accentuate the stunning surroundings.
The community will feature a six-story parking facility with 325 structured parking spaces that will connect to the apartments via three pedestrian bridges.
Greystar and Origin are also announcing the naming of Fiona, named for the Scottish Gaelic word for “vine”, a second nearby apartment project that has been under construction since the beginning of 2021.
Previously known as Elan Pikes Peak, Fiona – spanning six stories and 321 residences – will be downtown Colorado Springs’ largest apartment community with a mix of studio, one-bedroom and two- bedroom apartment homes, from 480 to 1,368 square feet. It is predicted to be finished by mid-2023.
“We’re excited about our partnership with Greystar and commitment to a second high-quality development in Colorado Springs,” said Tom Briney, managing director of Origin Investments. “Together with Greystar we’ve recognized the disparity between the caliber of jobs and people being attracted to Colorado Springs and the available rental housing stock to satisfy the marketplace. Ensley and Fiona will help to bridge that disconnect.”
Fiona, located at 400 E. Pikes Peak Ave., will include 368 parking spaces, 13,000 square feet of interior amenity space, and 25,000 square feet of exterior amenity space in three expansive courtyards – including a lap pool, spa, fitness courtyard, grilling area and Zen Garden.
Interior amenities will feature a clubhouse, game room, skydeck with sweeping vistas, two-story fitness center, dog wash and bike shop. The community will also offer a 7,500 square foot dog park on an adjacent parcel to the north.
Both communities will offer market rate rents starting at $1,280. For more information, visit www.greystar.com.
To learn more about Greystar, click here.
To learn more about Origin Investments, click here.